Hello,

Global stock markets finished higher last week, with a late Supreme Court ruling adding to the lift. Australian stocks led the way in euro terms, with strong earnings from major banks and miners continuing to support the 2026 rally. The UK also had a strong week, with shares in defence companies driving returns after Prime Minister Keir Starmer said Britain “needs to go faster” on military spending.

UK economic releases helped too, with expectations for further Bank of England rate cuts gaining ground. Annual inflation dropped markedly from 3.4% in December to 3.0% in January, while the unemployment rate hit a five-year high of 5.2% in December, up from 5.1%. Sterling weakened against the euro, and the 10-year gilt yield fell from 4.40% to 4.35% over the week.

Several Purchasing Managers’ Index (PMI) releases last week pointed to broadly positive global economic conditions. The Eurozone Manufacturing PMI rose to 50.8 from 49.5 in February, a 44-month high and ahead of forecasts of 50.0. In Japan, manufacturing activity expanded at its fastest pace since May 2022.

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Smart Financial Insurance Limited trading as Smart Financial is regulated by the Central Bank of Ireland. Past performance is not a reliable guide to future performance. The value of your investment may go down as well as up.